A disclosure note accompanying the financial statements reported the following ($ in thousands) Year Ended...
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A disclosure note accompanying the financial statements reported the following ($ in thousands) Year Ended (In thousands) $864,391 $786,104 (14,648)(16,919) 2015 2014 Calculation of account receivables, net: Receivables Less: allowance for doubtful accounts tesai reserve for product returna (9,133) (9,185) Trade accounts receivable, net: $840,610 $760,000 Assume that the company reported bad debt expense in 2015 of $3,300 and had products returned for credit totaling $3,425 (sales price). Net sales for 2015 were $6,239,800 (all numbers in thousands). Required: 1. What is the amount of accounts receivable due from customers at the end of 2015 and 2014? 2. What amount of accounts receivable did McConnell write off during 2015? 3. What is the amount of McConnell's gross sales for the 2015 fiscal year? 4. Assuming that all sales are made on a credit basis, what is the amount of cash McConnell collected from customers during the 2015 fiscal year
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